‘We will join global fight against crime’
THE TRNC will join the “international fight” against drugs and human trafficking if proposed amendments to existing laws are passed by Parliament, an MP has said.
Fikri Toros, a deputy for the Republican Turkish Party (CTP) and chair of Parliament’s Economy, Finance, Budget and Planning Committee, said that “shortcomings” in the existing “Prevention of the Laundering of Criminal Proceeds Act” will be “eliminated” with the passing of a draft Bill that includes amendments to make the law compatible with European Union directives. He said he hopes the draft amendments can be enacted this month, before Parliament’s summer recess.
“We have a law in place regarding the prevention of money laundering in our country . . . however it is not a law that is in line with EU directives,” Mr Toros said.
“This law needs to be compatible with the world because criminal proceeds, as they are known, is an issue with an international relations dimension.
“Drug trafficking, human trafficking and smuggling are international activities. Therefore, it is important for us that this law complies with international directives.”
Mr Toros said that the draft Bill has been with Parliament “for a long time” and stated that the members of the cross-party committee are currently acting “in consensus with the government and the opposition” regarding this law.
“We are trying to quickly prepare this Bill for Parliament by discussing it article by article,” he said.
“It is possible for this Bill to be submitted to Parliament before it goes into recess.
“If the committee chairman has the willpower and the government doesn’t send another urgent Bill to the committee, then we can focus solely on this Bill. It is possible to finish it.”
The TRNC should have legal regulations compatible with other countries in the world regarding the prevention of money laundering “for its reputation, reliability, investment and business environment” Mr Toros noted.
“We will be seen as disreputable if we don’t adapt to the world, which will jeopardise both investment and tourist interest in our country,” he said. “For this reason, this law is very important and as the CTP, we fully support it.”
He said the draft Bill includes, among others, measures to prevent and detect “money laundering and financial terrorism” especially in “banking, financial transactions and cash transactions”; principles and procedures regarding “cooperation and coordination activities to be carried out with state institutions and organisations for the purpose of implementing this law”; criminal and administrative sanctions to be applied in response to violations of this law; and special procedures for freezing and/or confiscating assets related to money laundering or financial terrorism.